lidya business loan website

Lidya Business Loan Review | Finance-On-Demand

As a business owner, you can grow your business with Lidya business loan. By removing complexity and offering clear and easy funding, they give their consumers the best results. They can provide funding and financial services through their unique fintech platform in as little as 24 hours without the need for collateral, enabling them to open up credit for firms that may have never borrowed before and are credit invisible.

Here is an overview of the service.

How Does Lidya Business Loan Work?

Lidya offers loans to customers to enable them to grow their businesses. You will be able to get loans with no further requirements or collateral by using the Lidya Finance-on-Demand Platform, which will give you a constant picture of your business’s success.

Features: 

  • Easy and instant loan application
  • No collateral
  • No paperwork

Below is the Lidya loan application procedure:

  1. Create an account for you and your team. 
  2. Connect your bank account or submit your bank statements to start using Finance-on-Demand.
  3. Apply for business loans.

Is Liday Loan Legit?

Lidya is a legit service to get loans. In 2021, they disbursed over 30,000 loans to users. Hence, the service is one of the most popular financial services. 

Check Lidya Review on Trustpilot

Lidya has garnered tons of reviews over the years. To see how users feel about the service, you can read through the reviews on Trustpilot. ‘

To check the Lidya reviews on Trustpilot:

  1. Go to Trustpilot.
  2. Search for Lidya. 
  3. You will see reviews written by customers.

Who is Eligible for Business Loans on Lidya?

To find out if you can get a loan, you’ll need to use Lidya Wallet for business transactions after you’ve set up your account. You must also link all of your current bank accounts. Once you’re done, their systems will keep track of your transactions to see how much, how long, and how flexible your payments can be. This makes it easy for them to make you an offer right away.

At Lidya, they want to give businesses the financial tools and insights they need to grow and become more creditworthy. With the new Lidya Finance-on-Demand platform, businesses can go to one place to get real-time information about their expected income and cash flow. Using your Lidya Wallet for business transactions regularly and linking all of your bank accounts to the platform will help you become more eligible. After you are approved for a loan, the “Apply for a Loan” button will light up and work.

How Much Can I Borrow on Lidya?

Lidya offers loans ranging from ₦500,000 to ₦35,500,000. Click the “Get a Loan” button on the business loan section to start your loan application.

To get loans, follow the guide provided below.

Lidya Business Loan Requirements

To qualify for business loans on Lidya, your business must meet the requirements below:

  1. For your business to qualify, it must be six months or more
  2. Possess one or more company checking accounts with a six-month transaction history.
  3. Your company needs working capital to expand.
  4. Need a more expedient and user-friendly solution than those offered by conventional finance sources.
  5. Ensure that there are transactions, not just balances, in your account during the last three months. You must provide evidence to our algorithm that your firm is active.
  6. Ensure that at least one of your bank accounts is in positive balance.
  7. Make sure that all of your accounts use the same currency.
  8. Verify that the currency specified in the file is appropriate for the nation.
  9. Make sure that the bank statement for your website loan request comes from a separate account.
  10. Verify that another customer is not already connected to your utilized bank account.

How to Apply for a Business Loan on Lidya

Follow this step-by-step guide to get loans on the Lidya Finance-On-Demand platform:

  1. Go to the Lidya loan website.
  2. Click on the Sign-Up button.
  3. Follow the prompts to create an account.
  4. Start using your Lidya wallet for business transactions.

Note: Using the Lidya wallet qualifies you for a business loan. You do not need to provide your three months bank statement. 

Lidya Loan Repayment Process

Lidya uses Bank Statement Financing, a 30-day cash advance based on the value of your previous three months’ worth of purchases. This revolving facility gives you better options when it comes to interest rates, loan terms, flexible repayment terms, and the amount of money you can borrow.

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